Broadridge Financial Solutions, Inc. · NYSE:BR
Broadridge Financial Solutions — Chartwell Industry Innovation Webinar: Improving the Digital Customer Experience (December 2018)
47 slides from Broadridge Financial Solutions's conference presentation, Dec 6, 2018
Slide 1: Industry Innovation Webinar: Improving the Digital Customer Experience
Industry Innovation Webinar Improving the Digital Customer Experience Teleconference: 844.621.3956 Session number: 289 116 347 Please enter your attendee ID when you call in to the teleconference. You can access your attendee ID by clicking on the menu item “Audio” and the option “Join Audio Confere
Slide 2: Moderator and Host
Industry Innovation Webinar Improving the Digital Customer Experience Moderator Host Scott Johnson Belinda Roberts Vice President Senior Conference Producer Chartwell, Inc. INSIGHT FOR TOMORROW’S UTILITY
Slide 3: Speakers
Industry Innovation Webinar Improving the Digital Customer Experience Speaker Speaker Noah Solomon Matt Swain Senior Research Analyst Managing Director Chartwell Broadridge INSIGHT FOR TOMORROW’S UTILITY
Slide 4: Improving the Digital Customer Experience
Improving the Digital Customer Experience December 6, 2018 www.chartwellinc.com INSIGHT FOR TOMORROW’S UTILITY 3
Slide 5: The percentage of customers on paper has dropped since 2017
The percentage of customers on paper has dropped since 2017 Percentage of customers enrolled in paper and paperless billing 76% 72% Customers enrolled in paper billing 2017 2018 Source: 2017 Chartwell Billing Survey, n=55 and 2018 Chartwell Billing Survey, n=50 www.chartwellinc.com INSIGHT FOR TOMOR
Slide 6: The savings from moving a customer to eBill continue to increase
The savings from moving a customer to eBill continue to increase 2016 2018 $0.73 $0.60 $0.45 $0.60 $0.15 $0.13 Paper bill eBill Paper bill eBill Per 50,000 customers a year: Per 50,000 customers a year: $270,000 $360,000 Source: 2018 Chartwell Billing Survey, n=50 www.chartwellinc.com INSIGHT FOR TO
Slide 7: Customers enrolled and interested in eBill – How are they different?
Customers enrolled and interested in eBill – How are they different? www.chartwellinc.com INSIGHT FOR TOMORROW’S UTILITY 6
Slide 8: eBill is the utility offering with the most awareness among consumers
eBill is the utility offering with the most awareness among consumers Awareness of different power company offerings Digital version of bill online 62% Digital/electronic payment options 59% Website to report outage 52% Website to start/stop/transfer service 50% Online outage map 39% Mobile app 31%
Slide 9: A large majority of customers are at least ok with eBill autoenrollment
A large majority of customers are at least ok with eBill autoenrollment Autoenrollment in eBill is ok 74% 77% Agree or Neutral Agree 44% 49% 2017 2018 Source: 2017 Chartwell Residential Consumer Survey, n=1,522 and 2018 Chartwell Residential Consumer Survey, n=1,517 www.chartwellinc.com INSIGHT FOR
Slide 10: The majority of customers want a copy of their bill emailed to them
The majority of customers want a copy of their bill emailed to them 59% of consumers agree their power company should send them an eBill Source: 2018 Chartwell Residential Consumer Survey, n=1,517 www.chartwellinc.com INSIGHT FOR TOMORROW’S UTILITY 9
Slide 11: So why don't more customers use eBill?
So why don’t more customers use eBill? www.chartwellinc.com INSIGHT FOR TOMORROW’S UTILITY 10
Slide 12: Customers who do not use eBill cite wanting paper copies
Customers who do not use eBill cite wanting paper copies for reminders and record-keeping Reasons to not use eBill My paper copy is my reminder to pay my bill. 47% I prefer a physical copy for my record keeping. 46% Another reason not listed here. 11% I’m not aware that my power company offers this.
Slide 13: Older customers most prefer a paper bill for record keeping
Older customers most prefer a paper bill for record keeping Reasons consumers are not enrolled in eBill 60% 50% 52% 49% 48% 42% 41% 35% I prefer a physical copy for my record keeping My paper copy is my reminder to pay my bill 18-34 35-49 50-64 65+ www.chartwellinc.com INSIGHT FOR TOMORROW’S UTILITY
Slide 14: Improving the Digital Customer Experience
December 6, 2018 Improving the Digital Customer Experience
Slide 15: Hi, I'm Matt!
Hi, I’m Matt! • Managing Director & Practice Lead for Podcast Series Broadridge Communications Consulting • Focused on benchmarking, communications strategy engagements, optimizing print, increasing digital adoption, and omni-channel communications execution • More than a decade of experience as an
Slide 16: Broadridge [NYSE:BR] at a Glance
Broadridge [NYSE:BR] at a Glance Broadridge, a global fintech leader with over $14 billion in market capitalization, provides communications, technology, data and analytics. We help drive business transformation for our clients with solutions for enriching client engagement, navigating risk, optimiz
Slide 17: The Print-to-Digital Journey
The Print-to-Digital Journey
Slide 18: Last Decade of USPS Mail Volumes
Last Decade of USPS Mail Volumes 100 First-Class Mail Marketing Mail 90 80 70 60 50 40 30 20 10 0 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 A Decade of Facts and Figures, U.S. Postal Service website, Sept 2018 © 2018 | 17
Slide 19: Utility Bills in Print Abound—As Do Their Designs!
Utility Bills in Print Abound—As Do Their Designs! Competiscan, July-September 2018 © 2018 | 18
Slide 20: Consumers Seeking Clarity and Relevance in Print
Consumers Seeking Clarity and Relevance in Print How can your providers improve the transactional communications they send you by mail? Make them easier to understand Make them relevant to me Personalize the content for me Combine multiple communications into one mailing Make it easier to manage per
Slide 21: Increasing Awareness for Bill Redesign
Increasing Awareness for Bill Redesign Competiscan, July-September 2018 © 2018 | 20
Slide 22: Back of the Envelope Strategy: Digital Engagement
Back of the Envelope Strategy: Digital Engagement Competiscan, July-September 2018 © 2018 | 21
Slide 23: Back of the Envelope Strategy: Informational/Upsell
Back of the Envelope Strategy: Informational/Upsell Competiscan, July-September 2018 © 2018 | 22
Slide 24: Educating Customers via Informative Energy Reports
Educating Customers via Informative Energy Reports Competiscan, July-September 2018 © 2018 | 23
Slide 25: Awareness Campaigns for Smart Meters
Awareness Campaigns for Smart Meters Competiscan, July 2018 © 2018 | 24
Slide 26: Embracing New Approaches to Communications
Embracing New Approaches to Communications Competiscan, September 2018 © 2018 | 25
Slide 27: MYBILL
4 MYBILL 1.800.555.5555 Septem ber 2018 Bill Hubbard 23 Vine Street Philadelphia, PA 19106 Account # 955555 Total Amount Due: Monthly use Compare with: @ State _| City 81 ey $0 1.62 ” Tax 54s oo You 18kWh Supply 349.39 Ave 21kWh Bill period: 9/17/2018 - 10/16/2018 40 Watt Usage: 80 kWh Due Date: 11/
Slide 28: AT&T: Tracking My Customer Journey
AT&T: Tracking My Customer Journey © 2018 | 27
Slide 29: AT&T Interaction Summary: Initial Outreach to Bill Pay
AT&T Interaction Summary: Initial Outreach Bill Pay Day 1 Day 66 Outreach Installation Reward Redemption Bill Arrives Bill Paid AR © 2018 | 28
Slide 30: AT&T Interaction Summary: Initial Outreach to Bill Pay
AT&T Interaction Summary: Initial Outreach Bill Pay Physical Day 1 Day 66 Outreach Installation Reward Redemption Bill Arrives Bill Paid AR © 2018 | 29
Slide 31: AT&T Interaction Summary: Initial Outreach to Bill Pay
AT&T Interaction Summary: Initial Outreach Bill Pay Digital Day 1 Day 66 Outreach Installation Reward Redemption Bill Arrives Bill Paid AR © 2018 | 30
Slide 32: Negative Consent: Forcing Consumers to Opt In for Paper
Negative Consent: Forcing Consumers to Opt In for Paper © 2018 | 31
Slide 33: Confusing Communications Drive Up Call Center Volume
Confusing Communications Drive Up Call Center Volume Looks like you recently enrolled in paperless billing or changed your email account… If you didn’t make any changes to your account and think you got this message by mistake, call us at 877-273-2728 © 2018 | 32
Slide 34: The Continuous Feedback Loop
The Continuous Feedback Loop
Slide 35: Gathering Live Customer Feedback As They Review Their Bills
Gathering Live Customer Feedback As They Review Their Bills © 2018 | 34
Slide 36: Questions for Residential Utility Customers
Questions for Residential Utility Customers • What information could be better emphasized to make it easier for you to review your bill? • What other information would be nice to see on your bill? • Talk about what makes your paper bill easy or hard to understand. What would make it easier to unders
Slide 37: "The amount due could be in bold font."
“The amount due could be in bold font.” © 2018 | 36
Slide 38: "It'd be nice to see the due date and billing period dates"
“It'd be nice to see the due date and billing period dates displayed a little more noticeably.” © 2018 | 37
Slide 39: "I think I would prefer they emphasize the usage a little more"
“I think I would prefer they emphasize the usage a little more or at least [use] different colors beyond gray and black to make it stand out.” © 2018 | 38
Slide 40: What Would Make it Easier to Understand Your Bill?
What Would Make it Easier to Understand Your Bill? Respondent: 29 year old female from North Carolina with a Duke Energy account Source: Broadridge Communications Consulting User Testing, October 2018 © 2018 | 39
Slide 41: How Can Your Utility Provider Improve?
How Can Your Utility Provider Improve? Respondent: 29 year old female from North Carolina with a Duke Energy account Source: Broadridge Communications Consulting User Testing, October 2018 © 2018 | 40
Slide 42: Three Things to Consider!
Three Things to Consider! • Consider the print-to-digital journey – Our clients often express a desire to make a quick switch from print to digital, which can work in some cases, but consider how print and digital can work together. – It’s about creating a convenient omni-channel experience that mee
Slide 43: Let's Connect!
Let’s Connect! Contact Info Social +1 631.257.4200 in/swainfotrends/ matt.swain@broadridge.com @swainfotrends Podcast Series https://www.broadridge.com/podcast-communications © 2018 | 42
Slide 44: Q&A Session Instructions
Q&A Session Instructions Press the hand icon to ask your question. Questions will be addressed in the order in which they are received. INSIGHT FOR TOMORROW’S UTILITY
Slide 45: Coming Up: Webinars
Coming Up: Webinars Increasing Customer • December 12, 2:00 p.m. ET Engagement after a • FPUC Hurricane Industry Benchmarks • December 13, 2:00 p.m. ET and Best Practices: • Chartwell Chartwell’s Quarterly Review www.chartwellinc.com INSIGHT FOR TOMORROW’S UTILITY
Slide 46: Attention Chartwell Members
Attention Chartwell Members Reminder: You receive access to research, a network of industry peers, topical webinars and analyst support. Log onto www.chartwellinc.com For more information, contact: Tim Herrick (404) 237-9099 ext. 229 therrick@chartwellinc.com www.chartwellinc.com INSIGHT FOR TOMORRO
Slide 47: No part of this document may be distributed, reproduced or posted without the express
No part of this document may be distributed, reproduced or posted without the express written permission of Broadridge Financial Solutions, Inc. ©2018 Broadridge Financial Solutions, Inc. All rights reserved. Broadridge and the Broadridge logo are registered trademarks of Broadridge Financial Soluti